Genius Group increases Bitcoin Treasury 40% to total purchase of 153 Bitcoin for $14 million
21 Novembro 2024 - 10:00AM
Genius Group Limited (NYSE American: GNS) (“Genius Group” or the
“Company”), a leading AI-powered, Bitcoin-first education group,
today announced that it had increased its Bitcoin purchases for its
Bitcoin Treasury by an additional $4 million to 153 Bitcoin for $14
million, at an average price of $91,372 per Bitcoin.
The purchase of an additional $4 million of
Bitcoin follows the Company’s announcement on November 12 of its
“Bitcoin-first” strategy in which it is committing 90% or more of
its current and future reserves to be held in Bitcoin, with an
initial target of $120 million in Bitcoin. The Company subsequently
announced the purchase of its first $10 million of Bitcoin
purchased on November 18.
This purchase represents the second purchase of
Bitcoin in the two weeks since the Company established its Bitcoin
Treasury. The purchase is part of the ongoing purchases the Company
intends to continue to make towards its initial $120 million
target.
Roger Hamilton, Genius Group’s CEO hosted the
first Podcast as part of its Bitcoin & Blockchain Education
Series on November 19. He was joined by Genius Group Board Members
& Blockchain Experts Thomas Power & Ian Putter. On the
podcast they discussed the rationale behind the companies that are
establishing Bitcoin Treasuries, and provided information and
guidance to other companies considering Bitcoin as a Treasury
Reserve. The recording of the Podcast can be viewed here.
The Genius Group Bitcoin 10 Step
Plan
On the Podcast, the Genius Group Board members
also discussed the Genius Group Bitcoin-First 10 Step Plan, which
it believes other Bitcoin-first companies can follow:
- Build a Blockchain /
Bitcoin First Board: Four recently appointed Board Members
to the Company are pro-Bitcoin, with extensive expertise and
connections, and Board discussions are centered around positioning
the Company for the future.
- Commit to a Blockchain /
Bitcoin First Strategy: The Company’s plans are centered
around upgrading its Edtech platform to offer its courses,
certifications, learning journeys, AI assistants and GEM reward
tokens on the Blockchain, and integrating Bitcoin as both a means
of a payment and the primary asset in its Treasury.
- Determine your
target: The Company has set a specific initial target of
purchasing an initial $120 million in Bitcoin for its Bitcoin
Treasury. Once the company achieves this target, it will set its
next target.
- Determine your value add
layer: The Company’s value add layer is a global AI
driven, Blockchain based education system, preparing students for
the exponential economies and ecosystems of the future. The Company
intends to establish this layer as a cash generating operation
enabling it to continuously contribute to its Bitcoin
Treasury.
- Establish your capital
growth plan: The Company is learning from the financing
and investment strategies that other Bitcoin-First companies are
using to build their Bitcoin Treasuries and adopting these
strategies into their plan as appropriate.
- Choose your
Jurisdiction: The Company has chosen Singapore as its
jurisdiction due to the country’s Bitcoin-friendly, pro-AI
environment and 0% capital gains tax.
- Choose your
Custodian: The Company has chosen Coinbase Singapore as
its custodian due to the robust set of tools and expert team
Coinbase delivers to the Company.
- Buy Bitcoin: The
Company began its Bitcoin purchases within days of its announcement
to build a Bitcoin Treasury.
- Do it now: The
Company believes speed is of the essence, due to the increasing
interest in and focus on Bitcoin on a global scale.
- Repeat: The
Company believes consistent purchases with a view to the long term
strategy and not the short term fluctuations in the market will
lead to the greatest benefit for the Company and our long term
investors.
Roger Hamilton, CEO of Genius Group, said “In
the last week, other public listed companies that are pioneering a
Bitcoin-first strategy have announced multiple new developments in
their financing strategies and Bitcoin holdings. It is difficult
for the average investor, entrepreneur or executive to keep up with
these changes, let alone adopt them within their own
companies.”
“We believe there is an important place for
Genius Group to provide an education system that is not only
powered by AI and the Blockchain, but that delivers valued courses
about AI, Bitcoin and the fastest growing exponential technologies.
As an education company, we are focused at meeting this important
need: To prepare students, entrepreneurs, investors, companies and
governments for the global shift to a future decentralized,
digital, trust-based economy.”
About Genius Group
Genius Group (NYSE: GNS) is a Bitcoin-first
business delivering AI powered, education and acceleration
solutions for the future of work. Genius Group serves 5.4 million
users in over 100 countries through its Genius City model and
online digital marketplace of AI training, AI tools and AI talent.
It provides personalized, entrepreneurial AI pathways combining
human talent with AI skills and AI solutions at the individual,
enterprise and government level. To learn more, please
visit www.geniusgroup.net.
For more information, please visit
https://www.geniusgroup.net/
Forward-Looking
Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will”, “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
20-F, as may be supplemented or amended by the Company's Reports of
a Foreign Private Issuer on Form 6-K. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise. No information in this press release should be
construed as any indication whatsoever of the Company’s future
revenues, results of operations, or stock price.
ContactsMZ Group - MZ North America(949)
259-4987GNS@mzgroup.uswww.mzgroup.us
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